‘Invest In Sharjah’ Enhances Emirate’s Role As Industrial Powerhouse

The Sharjah FDI Office (Invest in Sharjah) has reported notable advancements in establishing Sharjah as a leading industrial hub in the region. During the "Make it in the Emirates Forum," Invest in Sharjah presented the emirate's investment benefits, highlighting their vision and the services offered to support investors' growth and expansion.

Sharjah has seen substantial development in its markets, industrial zones, and free zones. This is evidenced by the issuance and renewal of 3,079 industrial licences in 2023 alone, marking a 10% growth rate compared to the same period in 2022, according to the Sharjah Economic Development Department (SEDD).

In 2023, Sharjah's manufacturing sector attracted US$18.9 million in foreign direct investment (FDI). This growth highlights the success of the emirate's economic diversification policies and strategic allocation of both local and foreign capital.

Marwan Saleh Alichla, Director of Investment Promotion and Support, stressed that economic diversification and a balanced approach between sectors are central to Invest in Sharjah's strategies. The focus on the industrial sector is driven by its crucial role in sustaining growth and enhancing the resilience of the overall economic structure.

Alichla noted that the industrial sector is the second-largest contributor to Sharjah's GDP at 16.7%. The emirate hosts 35% of the factories in the country. He stated, "There is significant interest from investors in Sharjah's industrial and free zones due to the comprehensive and flexible business environment, strategic location, and suitable infrastructure for SMEs and heavy industries."

Alichla added that continuous development of programmes and strategies supports Sharjah's vision of achieving global competitiveness. This has positioned Sharjah as the 5th fastest-growing city globally in attracting FDI in 2023.

Investment Advantages

The presentation at the forum detailed various advantages for investors, including a strategic location, robust infrastructure, and a supportive business environment. These factors contribute to making Sharjah an attractive destination for both SMEs and large-scale industries.

The ongoing efforts by Invest in Sharjah aim to further solidify the emirate's status as a premier industrial centre. The focus remains on creating a balanced economic structure that can withstand global economic fluctuations while fostering sustainable growth.

With inputs from WAM